🟠Bitcoin’s two-day decline is being called a “healthy reset” by analysts. Valentin Fournier of BRN expects a drop to around ~$110,000 amid falling activity and slowing ETF inflows. The pressure was exacerbated by profit-taking: Galaxy Digital transferred 30,000 BTC, with total exchange inflows hitting 34,000 BTC. Open interest on Binance, Bybit, and Gate increased by ~$4 billion, indicating a surge in short positions.
🟠On-chain analyst Axel Adler Jr. sees the ~6% pullback as within normal volatility. Dean Chen describes the movement as consolidation rather than a bearish trend. TD Cowen still sees a potential for $155,000 BTC by year-end, while $200,000 appears unlikely.